Bankers are preparing debt packages in excess of 2 billion euros ($2.6 billion) to back a buyout of French catering company Elior, Reuters reported Thursday. Private equity firm Charterhouse Capital Partners decided last month to sell Elior, either in whole or in part, and hired Credit Agricole, HSBC and Rothschild to manage the sales process The whole business, which includes a contract and concessions unit, could fetch 3-4 billion euros.
BC Partners and The Carlyle Group have completed the acquisition of Hamilton Sundstrand Industrial from United Technologies Corporation, the firms announced. The deal was valued at $3.46 billion. The newly independent company is now Neodyne Industries, and manufactures pumps and compressors for the global industrial, infrastructure and energy markets.
Madison Dearborn Partners has completed its purchase of Sage Products, a healthcare products maker. Specifics on the transaction—other than Sage’s anticipated 2012 revenue of $290 million—were not publicized. Barclays Plc led the financing on the deal and BofA Merrill Lynch provided financial advice to the buyer.
Helinet Aviation Services, a Van Nuys, Calif.-based provider of aviation services to a variety of industries, has acquired Shotover Camera Systems, developer of a gyro-stabilized camera system for shooting aerial footage in the next-gen digital video standard Ultra High-Definition. Terms of the deal were not disclosed.
Mike Mullen, a commercial real estate development executive, has joined the board of IndCor, a Chicago-based real estate company. IndCor is also a portfolio company of New York-based Blackstone.
Gramercy, an emerging markets investment manager based in Greenwich, Conn., has formed a new Latin American PE team led by Gustavo Ferraro, a managing director and head of Latin American Markets at Gramercy, and David Britts, a managing partner at the venture capital firm Fuse Capital, which is winding down.
Catterton Partners has apparently sold LittleMissMatched. Earlier this week, Delta Galil Industries said it had acquired the trademarks of LittleMissMatched.
Mergers may have slowed this year but the normally staid insurance sector is providing some relief. Deals involving brokers --including USI, Alliant Insurance Services, AmWins and Arrowhead General -- posted strong multiples this year.
Middle market buyout shop GI Partners has acquired a data center and office building in San Diego, the firm announced Thursday. The investment was made through DataCore, a real estate fund managed by GI Partners that was launched earlier this year with the California State Teachers’ Retirement System.
Babson Capital Management announced Thursday that it provided subordinated debt and made an equity co-investment to support The Riverside Company’s investment in Midnite Air Corp. Babson Capital was the sole provider of subordinated debt on the transaction. Los Angeles-based Midnite Air is a provider of third-party transportation and logistics services to the entertainment, life sciences, aviation and medical industries.